Qimonda to sell Taiwan's Inotera stake to US firm

0 Comments | AFP, October, 2008

TAIPEI (AFP) — Qimonda AG of Germany said Monday it has agreed to sell its 35.6 percent stake in Taiwan-based Inotera Memories Inc. to Micron Technology Inc. of the US for 400 million US dollars in cash.

Inotera, a memory chip maker, is a joint venture between Qimonda and Taiwan's Nanya Technology, which also holds a 35.6 percent stake.

In a statement, Qimonda said Micron will purchase the stake in two instalments and Qimonda's share of Inotera's capacity will be ramped down over the eight months following the closing of the deal.

Micron said in a separate statement it has obtained 285 million dollars in term loan financing commitments from strategic sources to fund the acquisition.

The US firm said it will share its Stack dynamic random access...